All posts by Todd Mitchell

Bulls Get 2nd-Straight Weekly Win

U.S. markets settled mixed on Friday as a somewhat lackluster monthly jobs report solidified bets that the Federal Reserve will cut rates again when it meets later this month. The mixed and lackluster session closed out another strong week for the market with the major indexes recovering much of the losses from August following the […]

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Stocks close little changed after disappointing jobs report, but rise for a second straight week

Stocks closed little changed on Friday after the release of disappointing jobs report data, but posted back-to-back weekly gains on optimism around U.S.-China trade relations. The Dow Jones Industrial Average ended the day up 69.31 points, or 0.3% at 26,797.46. The S&P 500 climbed just 0.1% to close at 2,978.71 while the Nasdaq Composite slipped 0.2% […]

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Stock Market Unfazed By Weak Jobs Report; LULU Stock, Costco Lead Nasdaq 100

Jobs Report

Stock market bulls were encouraged by modest gains for the Dow Jones, S&P 500 and Nasdaq composite in afternoon trade Friday. It was shaping up to be a constructive session on the heels of bullish gains for the stock market Thursday in higher volume. Lululemon stock and Costco stock were top gainers in the Nasdaq […]

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Markets Soar on News of China Talks, but Hopes for Progress Are Low

markets

President Trump’s decision to renew talks with China in the coming weeks sent financial markets soaring on Thursday, as investors seized on the development as a sign that both sides could still find a way out of an economically damaging trade war. The rally sent the S&P 500 up more than 1 percent, underscoring just how […]

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US jobs data supports dollar as fragile risk-on mood holds

U.S. economic data

Encouraging U.S. economic data gave the dollar an edge over its peers on Friday, arresting a recent flight from the greenback while also supporting Asian currencies as investors toned down recent gloom over the global economy. Separate surveys suggested the world’s largest economy is in better shape than investors had feared. U.S. service sector activity accelerated […]

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Bulls Power Past Major Resistance

U.S. markets showed continued strength on Thursday following news that U.S. and Chinese trade officials will meet early next month. Chinese Vice Premier Liu He agreed to a visit in early October during a telephone call with U.S. Treasury Secretary Mnuchin and U.S. Trade Representative Lighthizer.The gains helped the major indexes clear major resistance levels […]

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Gold could soar to its highest level since 2013 if the Fed keeps cutting rates, economist says

market

Gold​ could soar above $1,600 per ounce — its highest level since 2013 — next year if the Federal Reserve continues to lower interest rates, according to BNP Paribas.It would be the third key psychological level the metal has breached in a year: it edged over $1,400 in July and $1,500 in August. “Gold nudged up […]

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Whipsaw Action Continues as Bulls Push Prior Resistance

U.S. markets showed strength throughout Wednesday’s session as positive developments overseas and a ton of Fed speak here at home helped sentiment. The major indexes have remained in a longer-term trading range since the start of August but are once again pushing near-term and crucial resistance levelsThe Nasdaq rallied 1.3% after reaching a late day […]

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Slack plunges after posting first earnings report since going public

earnings report

Shares of Slack, maker of the popular workplace chat app, plunged as much as 16% on Wednesday after the company issued its first earnings report as a public company, briefly dropping below the reference price from its direct listing. Here are the key numbers:Earnings: Loss of 14 cents per share, excluding certain items, vs. 18 cents per […]

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Stock markets drop on news that U.S. manufacturing is shrinking

manufacturing

U.S. factory activity shrank in August for the first time in nearly three years — a sign the trade war with China is weighing down a crucial sector of the economy.  The news sent stocks dropping. The Dow lost 285 points, closing down 1%, at 26,118. The S&P 500 stock index lost 0.7%, falling to 2,906, […]

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